Homeownership Still Defines the American Dream
A new NAR survey highlights how affordability pressures, limited supply and reduced mobility are shaping buyer, owner and renter sentiment nationwide.
WASHINGTON — Homeownership remains a cornerstone of the American Dream even as affordability challenges continue to weigh on today’s housing market, according to new research from the National Association of Realtors®.
The findings were shared during NAR’s second annual Advocacy Week, including a live taping of the Advocacy Scoop podcast hosted by Shannon McGahn and Patrick Newton, where researchers highlighted shifting market sentiment and persistent affordability hurdles.
Despite strong long-term interest in owning a home, confidence in the current market remains muted. Just 17% of respondents say now is a good time to buy a home, down from 69% in 2013, citing high home prices and mortgage rates, economic uncertainty and stagnant wages as the main barriers.
The national survey, conducted Jan. 12–14 with 800 respondents, examined public sentiment on housing conditions and key affordability issues, offering a snapshot of how market pressures are shaping buyer, owner and renter outlooks nationwide.
Survey highlights:
- 85% say homeownership is an essential part of the American Dream, up from 79% in 2013
- Nearly half of homeowners (46%) say at least one major barrier is preventing them from moving
- The most common constraints include being unable to give up a low mortgage rate, limited affordable options nearby and tax considerations when selling
- Renters and non-homeowners report mounting concern about long-term affordability and limited housing options in their communities
- Respondents expressed broad support for policy approaches aimed at expanding housing supply and easing affordability pressures
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